Novare Capital Management LLC Purchases New Shares in Citigroup Inc. (NYSE:C)

Novare Capital Management LLC acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,651 shares of the company's stock, valued at approximately $401,000.

Several other institutional investors also recently bought and sold shares of the business. Adell Harriman & Carpenter Inc. grew its stake in Citigroup by 18.6% during the first quarter. Adell Harriman & Carpenter Inc. now owns 82,067 shares of the company's stock worth $5,826,000 after buying an additional 12,863 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of Citigroup by 126.9% in the first quarter. Concurrent Investment Advisors LLC now owns 39,657 shares of the company's stock valued at $2,815,000 after purchasing an additional 22,182 shares during the period. World Investment Advisors boosted its stake in shares of Citigroup by 25.9% in the first quarter. World Investment Advisors now owns 33,614 shares of the company's stock valued at $2,386,000 after purchasing an additional 6,908 shares during the period. Capital Investment Advisory Services LLC boosted its stake in shares of Citigroup by 6.4% in the first quarter. Capital Investment Advisory Services LLC now owns 6,092 shares of the company's stock valued at $432,000 after purchasing an additional 366 shares during the period. Finally, Strategic Blueprint LLC purchased a new position in shares of Citigroup in the first quarter valued at $3,088,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

C has been the topic of several recent analyst reports. Bank of America upped their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Royal Bank Of Canada cut their price target on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen cut shares of Citigroup from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Morgan Stanley increased their target price on shares of Citigroup from $94.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Finally, Truist Financial dropped their target price on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $85.43.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director owned 13,048 shares in the company, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Down 2.3%

C traded down $2.02 during midday trading on Tuesday, hitting $85.58. 18,069,873 shares of the company's stock traded hands, compared to its average volume of 14,681,158. The company has a market cap of $159.84 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34. The stock's fifty day simple moving average is $77.35 and its 200-day simple moving average is $74.45. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. Citigroup Inc. has a one year low of $53.51 and a one year high of $88.83.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.